St Kilda's best site offered for the first time in 80 years

A corner apartment site in St Kilda is on the market for the first time in 80 years with numerous potential options including redevelopment, refurbishment and subdivision.

The 2370 sqm property at 6 Tennyson Street is zoned General Residential Zone Schedule 1 and comprises three apartment buildings with 50 units.

According to marketing agents, Teska Carson Director, Larry Takis with Anthony Choi, the property is one of the best opportunities presented to the market in St Kilda in years.

"This is a rare find providing developers with options galore in terms of the potential for redevelopment and refurbishment, while subdivision of the property into individual titles provides even more options," Takis said.

"The location provides access to every amenity in one of Melbourne’s most popular inner suburbs and offers exceptional access from a development point of view being on the corner of Bundalohn Court providing very generous frontages, with additional access via a right of way."

The property could accomodate up to 47 one, two and three bedroom residences and two townhouses over three or four levels, according to a feasibility study presented by architects Hayball.

Takis said the property also presented the potential for subdivision into several townhouse sites.

He said St Kilda had been a favorite destination for Melburnians for decades based on its outstanding location and access to and from all parts of Melbourne.

"St Kilda has long been regarded as one of Melbourne’s most prestigious and hip locations, offering an abundance of lifestyle amenities including beaches, some of Melbourne’s best live entertainment venues and features such as Luna Park."

"This particular Tennyson Street location, benefits from a long list of amenities in close proximity including first rate public transport and major arterial routes, and numerous state and private, primary and secondary schools and colleges including Caulfield Grammar, as well as health and community care facilities, sporting facilities including Elsternwick Park tennis and golf."

He said the property’s key attributes included:

• A substantial land holding of 2370 square metres; 
• The central location close to all amenities including Acland and Barkly Streets retail precinct, St Kilda Botanical Gardens and St Kilda foreshore;
• The potential to redevelop, refurbish or subdivide (STCA); 
• The close proximity to public transport and major arterials; and,
• The availability of short term income during planning stages. 

The property will be sold by Expressions of Interest closing Monday, August 8 at 3pm.